Griffin Asset Management Inc. Acquires Shares of 1,175 Deere & Company $DE

Griffin Asset Management Inc. acquired a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,175 shares of the industrial products company’s stock, valued at approximately $547,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. lifted its position in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $2,153,000. NewEdge Advisors LLC lifted its position in shares of Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC lifted its position in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock opened at $530.84 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a market cap of $143.39 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.96 and a beta of 0.96. The business has a fifty day simple moving average of $577.80 and a 200 day simple moving average of $539.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the company earned $6.64 EPS. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 18.01 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, March 31st. Deere & Company’s dividend payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent analyst reports. Wolfe Research upped their target price on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Bank of America upped their target price on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. BMO Capital Markets upped their target price on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Robert W. Baird cut their target price on Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Finally, Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research report on Wednesday, April 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

Key Headlines Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere posted stronger-than-expected Q2 results, with EPS of $6.55 topping estimates and revenue rising 5.4% year over year to $13.37 billion, helped by solid demand in Small Ag & Turf and Construction & Forestry. Deere Shares Fall 4.4% Despite Earnings Beat and Stable Outlook
• Positive Sentiment: The company said it maintained its full-year profit outlook, signaling management confidence despite a tougher farm-cycle backdrop. Deere beats second-quarter profit estimate but maintains full-year forecast
• Neutral Sentiment: Deere’s construction and smaller-equipment businesses continued to offset weakness in core agricultural equipment, keeping overall sales growth positive. Deere Sales Rise as Construction Growth Offsets Agriculture Weakness
• Negative Sentiment: Investors are focusing on weak large-agriculture trends: Production & Precision Ag sales fell sharply and operating profit declined, suggesting the most cyclical part of Deere’s business is still under pressure. Deere shares tumble after weak large-ag outlook overshadows earnings beat
• Negative Sentiment: Management’s unchanged full-year framework and cautious commentary on farm budgets imply a slow recovery for big-ticket equipment demand, which is weighing on the stock. Deere Shares Tumble With Farmers Facing ‘Ongoing Challenges’

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.